To the best of its knowledge, the Lessor warrants that the improvements on the Premises comply with the building codes, applicable laws, covenants or restrictions of record, regulations, and ordinances that were in effect when each improvement was made. Note that this does not mean the premises meet current building codes. The warranty is limited. So, the Lessee is responsible for notifying the Lessor of any violations within 6 months of the Start Date. If the Lessee does not give notice within that time period, then it is their obligations to correct any problem. If the laws are changed, this paragraph sets out a formula for deciding how the cost will be divided between the Lessor and Lessee. It’s important for the Lessee to ensure that the Premise is in compliance within the warranty period in order to avoid fixing the problem with their own money.
Acknowledgements refers to accepting the terms and conditions set forth regarding the Premises in the Lease. This paragraph is intended to “protect” brokers when representing Tenants, however brokers should make it a practice to advise their clients in writing of the need to verify with all appropriate governmental agencies that the Premises are suitable for their clients’ intended use.